What is car or van Leasing?
Leasing a car or van is a cost effective way of paying monthly for the use of a vehicle. You essentially long-term rent a brand new vehicle for between 2 and 5 years and then simply hand the car back at the end of the term. Leasing is also another name for Business or Personal Contract Hire (BCH or PCH) which is the formal name for the contract type.
What are the benefits of leasing?
There are many benefits of leasing your next vehicle. Here are our top 9 benefits of leasing!
Drive a brand new car or van for less than you think.
There are always epic leasing deals available. View our special offers here.
Fixed monthly costs throughout the term of the contract.
No increases in the monthly payments at any point in the contract.
Delivered direct to your door.
Your vehicle will either be driven or transported straight to you.
Hassle free way to run a vehicle with help always on hand.
Both your leasing funder and ourselves are always just a phone call away.
You have the option to have the vehicle maintained for you.
You can pay a set monthly cost to that covers all servicing, tyres etc. so there aren't any unexpected costs throughout the contract.
No worrying about depreciation.
As you don't own the vehicle your money is not losing value month on month.
New cars and vans are much safer than buying used.
Safety in new vehicles is always evolving with new technology so a new car will have more safety features than a used car protecting your loved ones more.
Your brand new lease vehicle will be reliable.
Brand new cars haven't got any history and haven't been used before you, the first owner, and if something does go wrong with the vehicle the warranty is typically 3 or more years.
There are huge tax benefits when leasing a vehicle through a business if taken advantage of.
There are some tax benefits of leasing a vehicle especially with electric vehicles with lower BIK tax (Benefit In Kind tax) and the ability to claim back some of the tax element on your lease.
How does car and van leasing work?
Firstly, you find a vehicle which may work for you, whether it be a car or a van, we then tailor that deal to suit you allowing you to choose your initial rental (typically 1, 3, 6, 9, or 12 monthly payments upfront), annual mileage, term of the contract along with any necessities or optional extra you may want or desire. You then complete our online finance application and we submit this to the funder we have picked to get you the best deal. Upon credit acceptance of your credit application we send your a vehicle order form to confirm everything is correct with the vehicle, once this is signed we will then order the vehicle on your behalf. All that's left to do then is some finance documents which our customer support team will talk you through if you have any questions and we keep you in the loop every step of the way right up until your brand new vehicle is delivery straight to your door.
Why lease from us instead of a dealership?
Leasing from a broker like us certainly has its advantages. We have access to all makes, all models and a panel of leasing funders. Dealers tend to specialise in one or a few different manufactures and be tied to their manufacturers funding partner. As we have a panel of lenders we can ensure that we are getting the best deal for you.
So why us? We are one of the most established and popular car leasing brokers in the UK and we're here to keep you in lane on every step of your leasing journey from the very start with our simple order process right up until the end of your lease.
Is leasing the same as renting?
Leasing is very similar to renting however, leasing is usually over a longer term than renting. Leasing is typically between 2 and 5 years but renting tends to be less than 12 months. When renting you will not have to declare the mileage you expect to do in the vehicle, although there may be a maximum miles, the cost doesn't reflect in pricing brackets like with leasing. With leasing you must decide how many miles you are likely to do before the lease is delivered and live. This is with the small exception of the few funders who allow amendments of mileage in the first 6 months.
Should I Lease or PCP?
We've entailed the differences between leasing and PCP along with benefits of each in this guide.
How long should I lease for?
This is a decision that only you can make however the average and the term that we think is the sweet spot for a leasing contract is 3 years or 36 months as it might often be referred to.
Why is 3 years the sweet spot for leasing?
- You often won't have to get the vehicle MOT'd as you will hand the vehicle back before required.
- Your vehicle will be in warranty. Nearly all vehicle manufactures have a warranty period of 3 years or more.
- You'll get a new car sooner than a 4 or 5 year lease contract.
- Often 3 years is slightly less per month than a 2 year contract unless the particular leasing company is promoting a particular vehicle on a shorter contract term.
For more anymore questions about the benefits of leasing your next vehicle call the team on 0800 096 6488 and we'll be able to assist alternatively some of our leasing guides may be able to answer any questions you may have.
The information on this page should not be taken as financial advice and should only be perceived as a guide.